All Forum Posts by: DeAngelo Melone

Trying to run the right numbers, what are any Landlords in Newark paying for utilities and monthly expenses?

Hello Simond, I saw your post and thought I might be able to lead you to someone who might have some more answers. I am also looking into section 8 housing in NJ and have started the journey(newbie). Take a look at this interview on BP youtube channel wit Joe. He would be a great contact for you. Feel free to KIT and let me know how it goes. DeAngelo

@Andrew Postell Thanks for the reply Andrew

Hello BP world! I recently saw this webinar (not on BP) about the RE market beginning to correct itself close to Q3 of 2020 and how this will affect many investors seeking funding for their deals. Their reasoning for this was that this would create a tremendous buying increase and limit funding from traditional resources. Another issue that was raised was how homebuilders were having extreme difficulty in finding skilled laborers which was raising the cost of construction (not sure how that was correlated but ok). The opportunity that was being shared was how private funding would be a main source of funding for investors and anyone with the right set of skills and information could be of service to both parties. The main point of it all was to bringing these two together (private money broker/no license required) thus being a loan originator and receiving a 3% fee for you services. Has anyone ever heard of this before? Is this real? And if so, what prevents anyone from just basically going around the middle man to get the loan? To be honest, this did peak my interest for a few reasons and here they are:

1. Being able to earn income while on my way to getting my first rental property deal done.

2. To use this capitol for positioning myself as best as possible for my own deals

3. To network with people and build relationships.

4. To gain real life experience in RE that may be invaluable.

Outside of all this I am still interested in if there are any ways to create income in RE while in route to my first deal. Curious as to what problems I could solve or make more simple for the many different processes involved in RE transactions. So to stop being so long winded my post is really more about where is the opportunity for me to leverage my high level of interpersonal skills, relationship building, ability to communicate effectively and work ethic in to an advantage for me and whomever I can help along my journey. Let me know.

Thanks for Listening,

DeAngelo

Im looking for them too. registered a few days ago and never go the email to login

I did not receive my email for tonights webinar. can't get in. whats the deal guys

Thanks for the feedback guys, I really appreciate it.

I went to a seminar earlier this month about wholesaling and the speaker mentioned that when wholesaling he would buy a property with an LLC and then sell the ownership in that company to an end buyer. [b]FYI I'm in the Brooklyn/Queens area. I'm looking to duplicate this same process for my own wholesale deals and wanted to know in more detail if any of the BP community was familiar with this process and exactly how one would structure their wholesale contracts with sellers and buyers. The seller: When speaking to the seller; do you tell them that you are buying the property straight out or do you tell them you have partners that will buy the property? How do I get the right contract set up for my A to B position (A=seller and B=me), and who draws up this contract (shoestring budget can't afford any lawyer at this time)? What time table is best for this contract 30/60 day? I figure that you have a contract between you and your end buyer as well. That being said what type of language is in this contract, who would you use to write this contract up? I do recall it being said that I (wholesaler) would let the end buyers lawyer figure out how to make it work so that the end buyer can purchase the company from me so that part is pretty self explanatory but the rest I need to be more informed. Appreciate anything anyone who is familiar with this process can tell me.

Thanks A Million,
DeAngelo

thanks

thanks for the feed back and wanting to know same thing as well everybody